Funding for innovative startup projects is being made available to Sudbury-area entrepreneurs working in the fields of life sciences, health care, cleantech and advanced manufacturing.
The province-wide Level-Up! funding program is being facilitated through regional innovation centres in the Ontario Network of Excellence (ONE), including the Northern Centre for Advanced Technology (NORCAT) in Sudbury.
Under the initiative, $1 million will be available to early-stage technology entrepreneurs across the province who are looking to advance their company to the next level of growth through a strategic, short-term, high-impact project.
ONE will contribute $15,000, while a minimum $5,000 commitment is required from the entrepreneurial venue.
Eligibility requirements follow:
life sciences and health-care companies in Ontario must have no more than $4 million in private investment and $2 million annual revenue, and cleantech or advanced manufacturing companies in Ontario must have no more than $2 million in private investment and $1 million in annual revenue;
organizations cannot be a subsidiary of a larger parent company;
organizations must be a registered client with NORCAT and have met with a NORCAT advisor who will refer the application;
the project duration cannot exceed four months;
project outcomes need to clearly demonstrate how the funding will enable the company to accelerate its growth and ultimately create jobs and wealth for the Ontario economy.
The deadline for applications is Dec. 6. For more details, email entrepreneurship@norcat.org.
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